Word: peak
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Dates: during 2000-2009
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...biggest one-month decline in absolute terms since 1949. Job losses from this recession are now markedly worse than those during the previous two downturns that had competed for the title "worst since the Depression." Nonfarm employment has dropped by 5.1 million, or 3.7%, since its peak in December 2007. In the 1981-82 recession, employment fell 3.1%, and in 1974-75 it fell 2.8%. (Here's the comparison in chart form...
...unemployment rate is still well below the 10.8% peak of late 1982, but this doesn't signify much. The rate is what economists call a "lagging indicator," and it will still be rising well after the economy has started growing again. It's also misleading, in that it excludes from its calculations people who would really like to have a job but have given up actively looking. As a result, economic forecasters tend to look more closely at payroll data, which come from a survey of 150,000 businesses and government agencies. (The unemployment rate is derived from a Census...
...comes the hangover. Funds launched in 2005 and 2006, which invested most of their capital at the market peak, will struggle ever to turn a profit. But research firm Preqin reports that of $2.5 trillion in private-equity assets worldwide at the end of 2008, $1 trillion was "dry powder" - cash that hadn't been invested. There are lots of cheap companies out there, and private-equity firms with cash on hand will surely hit a few home runs with investments made in the coming years...
...Hazards of Love” track, the first act progresses into bombastic power chords as Margaret enters the treacherous forest. The second act adds a reprise of “The Hazards of Love” through the eyes of her love William. The album reaches a peak with “The Wanting Comes in Waves/Repaid,” as William is confronted by the evil queen. Using the leitmotifs from the previous songs, the later half of the album describes the rake character and the abduction of Margaret until she and her lover find peace in death...
...effect of the new sentencing guidelines has been dramatic. Drug offenders as a percentage of New York's prison population surged from 11% in 1973 to a peak of 35% in 1994, according to the state's Corrections Department. The surge was mostly a result of convictions for "nonviolent, low-level drug possession and drug sales" Paterson told TIME, "people who were addicted and were selling to try to maintain their habits." According to Paterson, just 16% had a history of violence. "And so really," he says, "you're shipping off a generation." In 1979, the laws were amended, reducing...